§ 27. Sir K. WOODasked the Lord Privy Seal in how many cases and to what extent industry has availed itself of facilities for obtaining fresh capital as announced by him at Manchester?
Mr. THOMASI would refer the right hon. Gentleman to the reply which I gave on the 18th March to the hon. Member for Newcastle, North (Sir N. Grattan-Doyle), a copy of which I am sending to him.
§ Sir K. WOODIs the right hon. Gentleman not able to report any progress since the 18th of March?
Mr. THOMASYes, but I am wondering whether the advantage of mere cross-examination across the Floor of the House is equal to the advantage of knowing that if you discuss with business men their financial difficulties and make arrangements it is far better that you should state across the Floor of the House that there is nothing to report, than to report something which will be to the disadvantage of business.
§ Sir K. WOODCan the right hon. Gentleman say how in any way it will be to the disadvantage of business to state how many firms have availed themselves of the facilities for finding fresh capital?
Mr. THOMASLet me give the right hon. Gentleman one simple illustration. 201 I gave the case last Thursday of the closing down of works affecting a large number of people. Financial assistance was necessary. I arranged the financial assistance and kept the factory going. It is not for me to report such matters across the Floor of the House.